ADR repaints?

Hi guys

Im trying this ADR indicator i got from here and im not sure as to why it apears to 're-paint' as the day unfolds, on and hourly chart.

The attached 1H chart shows the start of the new day with a vertical line.

Then you will see an 'A' placed at the top of the new ADR range. That appears to remain constant whilst the bottom line (originally placed at point 'B') now has shrunk back to point 'C'.

The 2 thick blue horizontal lines was placed by me when the new ADR appeared, so you see the re-painting happening as the new hourly candles complete.

Is there something I have not done correctly, or is there a version that has this issue rectified.

Anyone have a good working one here that they can post up?

The ADR indicator projects the daily range value from the daily opening price of the market, it does not predict the daily high or daily low, but just gives you a running calculation from where the current price is at and as price moves it will recalculate, where the new low or new high could be, based on the previous number of days average.
The price could turn round & go south and not make the ADR High, so where would price have to fall to, to make the ADR Low ?
This is the reason why the ADR Highs & Lows will change as the day progresses.
Also on many days it will not make the Daily range or even exceed it.
Use it as as tool to help you to think twice about buying/selling after the ADR high or the ADR Low has been reached.

Thanks Shabs19 for your reply.

Its interesting that it does move around on the first 2-3 1H candles and then cements itself to the final resting place.

I then have the other boundries to work with.

I can live with that.

cheers

So which indicator is this that we are talking about?

Try using an ADR indicator that repaints as new daily highs/lows are hit, but still shows you "where it's been throughout the day". Something like this might work for you:

http://www.forexfactory.com/showthre...58#post5355558